How well do you know potential customers?
If you know your customers’ preferred products, you’ll be one step ahead. Why? Because understanding customer product preferences can help you create a compelling message that resonates with your target audience. Your messaging can be more specific, providing the right enticement to buy from you, not your competition. Do you know what feature and benefits potential customers look for in a product or service offering similar to yours?
If you’re not sure…
Look at all customer touch points – or interactions with the customer – where competing or substitute products may be different or offer a source of competitive advantage. Factors to consider range from features and benefits, quality, durability and performance to how a product or service is delivered and priced. You should also consider personal or individual traits that influence or motivate your prospect to purchase your offering. Some traits to consider include:
Fine tune your assumptions
Conduct a customer survey to get potential customer or prospect feedback. Try to uncover the problem(s) your prospect would like to solve or an objective they would like to achieve with regard to your type of offering. In some cases, they will have “needs” that must be met, and in other cases, they will have “wants” that would be nice to have. Is your offering a “want,” “need,” or somewhere in between? Also, what are their expectations with your offering? By learning more about your customer preferences or desires, you can tailor your message to their interests, helping you find new market segments to target to further grow your business.
By knowing customer preferences, you can craft the right message to use. Soon, you’ll be on your way to developing a list of key success factors that will help you define how to extend your reach.
- BenMark, Gadi and Maher Masri. “Cracking the Digital-Shopper Genome.” McKinsey & Company. Last modified August 2015. http://www.mckinsey.com/insights/marketing_sales/cracking_the_digital-shopper_genome.
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- Holtzclaw, Eric. “Why Preference Management is the Secret to Customer Retention.” NAPCO Media. Last modified March 6, 2019. https://www.mytotalretail.com/article/why-preference-management-secret-customer-retention/.
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- “Why It’s Importance to Understanding the Customer’s Buying Behaviour.” Oxford College of Marketing. Accessed May 20, 2020. https://blog.oxfordcollegeofmarketing.com/2014/11/27/why-its-important-to-understand-the-customers-buying-behaviour/.
- Solomon, Micah. “2015 Is The Year Of The Millennial Customer: 5 Key Traits These 80 Million Consumers Share.” Forbes.com LLC. Last modified December 29, 2014. http://www.forbes.com/sites/micahsolomon/2014/12/29/5-traits-that-define-the-80-million-millennial-customers-coming-your-way/.
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- Weedmark, David. “Definition of Consumer Preference.” Bizfluent. Last modified June 11, 2018. https://bizfluent.com/info-8698883-definition-consumer-preference.html.